- Earnings per share: $1.21 adjusted vs. $1.22 expected
- Revenue: $19.52 billion vs. $19.4 billion expected
Higher prices help Procter & Gamble offset commodity costs, but Tide maker warns of more challenges
Procter & Gamble on Friday reported mixed quarterly results as the consumer products giant faced rising commodity costs and warned it expects such headwinds to persist in its fiscal 2023.
The Cincinnati-based maker of products including Pampers, Pantene and Tide said higher pricing during its fiscal fourth quarter offset a slip in sales volume, which it attributed primarily to Covid pandemic-related lockdowns in China and reduced operations in Russia.
Shares of the company closed down about 6%.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: